In Many States, If a Minor Does Business in the Manner

question 71

True/False

In many states, if a minor does business in the manner of an adult, his or her related contracts are fully enforceable.

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Definitions:

Put Option

A financial derivative contract giving the holder the right but not the obligation to sell a specified amount of an underlying asset at a set price before the contract expiration.

Market Price

The current market rate for transactions involving an asset or service.

Strike Price

The determined price point where the possessor of a call option has the right to buy, or in a put option scenario, to sell the asset in question.

Put Option

A financial contract giving the buyer the right, not the obligation, to sell an asset at a specified price within a specified time.